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Q3 private home prices up; new home sales double over previous quarter, but rents are down

Net absorption of private residential property stays in negative territory, reaching all-time low of minus 2,605 units

Kalpana Rashiwala

Published Fri, Oct 23, 2020 · 09:50 PM

Singapore property

Singapore

A SHARP rebound in private home sales in both primary and secondary markets in the third quarter underpinned continued gains in the official private home price index, but it was a different story in the leasing market.

Private housing rents in Singapore continued to soften in Q3 2020, albeit at a slower clip, while vacancies rose

The Urban Redevelopment Authority's latest data shows that private home rents in Singapore fell 0.5 per cent quarter-on- quarter in Q3, a smaller decline versus the 1.2 per cent decrease in the previous quarter.

The vacancy rate …